Zacks Investment Research upgraded shares of Meta Financial Group (NASDAQ:CASH) from a hold rating to a buy rating in a report issued on Thursday, Zacks.com reports. The brokerage currently has $31.00 price objective on the savings and loans company’s stock.
According to Zacks, “Meta Financial Group, Inc. is the holding company for federally chartered savings bank MetaBank, Member FDIC. Headquartered in Sioux Falls, S.D., MetaBank operates in both the Banking and Payments industries: MetaBank, its retail banking division; Meta Payment Systems, its electronic payments division; AFS/IBEX, its insurance premium finance division; and Refund Advantage, its tax refund-transfer software division. The synergies among the four provide a unique business model for the company. “
Several other research firms have also recently commented on CASH. BidaskClub raised shares of Zebra Technologies from a hold rating to a buy rating in a research report on Saturday, July 6th. B. Riley reaffirmed a buy rating on shares of Skechers USA in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $35.25.
CASH traded up $0.27 during trading on Thursday, hitting $27.81. 4,074 shares of the stock traded hands, compared to its average volume of 200,392. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 9.90 and a beta of 1.29. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.71 and a quick ratio of 0.70. The company has a 50-day moving average price of $27.61. Meta Financial Group has a 12-month low of $17.84 and a 12-month high of $32.72.
Meta Financial Group (NASDAQ:CASH) last posted its earnings results on Thursday, April 25th. The savings and loans company reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.15. Meta Financial Group had a net margin of 13.76% and a return on equity of 10.46%. The firm had revenue of $176.38 million during the quarter, compared to analysts’ expectations of $173.63 million. As a group, equities research analysts expect that Meta Financial Group will post 2.5 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 10th were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.20 annualized dividend and a dividend yield of 0.72%. Meta Financial Group’s dividend payout ratio is 7.12%.
In other news, Director William David Tull sold 9,956 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $27.31, for a total value of $271,898.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Robert Kramer sold 18,592 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $26.00, for a total transaction of $483,392.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 308,068 shares of company stock valued at $8,314,422. Corporate insiders own 7.69% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of CASH. Steward Partners Investment Advisory LLC bought a new stake in Meta Financial Group in the second quarter worth $115,000. Clear Harbor Asset Management LLC bought a new stake in Meta Financial Group in the second quarter worth $290,000. Versant Capital Management Inc increased its position in Meta Financial Group by 262.8% in the second quarter. Versant Capital Management Inc now owns 896 shares of the savings and loans company’s stock worth $25,000 after purchasing an additional 649 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its position in Meta Financial Group by 12.1% in the second quarter. Mesirow Financial Investment Management Inc. now owns 25,899 shares of the savings and loans company’s stock worth $710,000 after purchasing an additional 2,790 shares during the last quarter. Finally, Cortina Asset Management LLC increased its position in Meta Financial Group by 41.7% in the second quarter. Cortina Asset Management LLC now owns 300,969 shares of the savings and loans company’s stock worth $8,442,000 after purchasing an additional 88,613 shares during the last quarter. 70.07% of the stock is owned by institutional investors.
Meta Financial Group Company Profile
Meta Financial Group, Inc operates as the holding company for MetaBank that offers various banking products and services in the United States. The company accepts various deposit products, including statement savings accounts, money market savings accounts, negotiable order of withdrawal accounts, and checking accounts; and deposits related to prepaid cards, which primarily comprise checking accounts and certificate accounts.
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